# North Pacific Bank,Ltd.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第170期(2025/04/01－2026/03/31) (S100YBAP)
> Page: https://vizora.meequs.com/en/company/north-pacific-bank
> Retrieved: 2026-09-30T19:13:13.570Z

## Company

North Pacific Bank, founded in 1917, is a company in Regional Banks listed on TSE Prime. It has 2,828 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | North Pacific Bank,Ltd. |
| Ticker | 8524 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8524.T) |
| Listing | TSE Prime |
| Head office | 札幌市中央区大通西3丁目7番地 |
| Representative (per filing) | 取締役頭取 津山 博恒 |
| Founded | Aug 1917 |
| Employees (consolidated) | 2,828 |
| Average salary (parent only) | ¥7.4M |
| Fiscal year end | March |
| Website | hokuyobank.co.jp (https://hokuyobank.co.jp/) |
| Corporate number | 8430001022711 |
| EDINET | E03632 |
| Industries (Vizora) | Regional Banks, Securities & Asset Management, Credit Cards & Consumer Credit, Leasing |

> Profile source: annual securities report (S100YBAP, filed 2026-06-15). As of filing

## Key points (generated from figures)

- About 87% of North Pacific Bank's ordinary revenue comes from Banking, with Leasing and Other making up much of the rest.
- Out of every ¥100 of ordinary revenue, about ¥16 is left as ordinary profit.
- Ordinary revenue changed +56.6% from the prior year, ordinary profit +33.7%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥235.9B |  |
| Ordinary income | ¥37.5B | Margin 15.9% |
| Net income | ¥25.6B | Margin 10.9% |
| Employees (consolidated) | 2,828 |  |
| EPS | ¥66.75 |  |
| Diluted EPS | ¥66.74 |  |
| Book value per share | ¥995.89 |  |
| Equity ratio | 2.9% |  |
| Shares outstanding | 378,060,000 |  |
| Treasury shares | 2,734,800 |  |
| Shareholders | 32,162 |  |
| Average salary (parent only) | ¥7.4M | Filing company only |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥128277000000 | ¥235927000000 | +83.9% |
| Employees | 3,106 people | 2,828 people | -9.0% |
| Cash and equivalents | ¥2595570000000 | ¥2263763000000 | -12.8% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 銀行業 → 銀行業 | 79.6% |
| リース業 → リース業 | 10.3% |
| リース業 → 事業再編・廃止 | 6.4% |
| その他 → その他 | 2.8% |
| その他 → 事業再編・廃止 | 0.8% |
| 新設・再編 → 銀行業 | 7.2% |

Segment revenue source references: 6 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Banking | 5 years | +14.9% | ¥204906000000 | 17.5% | 2 |
| Leasing | 5 years | +2.5% | ¥24417000000 | 3.5% | 2 |
| Other | 5 years | +7.6% | ¥6645000000 | 24.7% | 2 |

## Income statement（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Ordinary revenue | 235,927 | 100.0% | S100YBAP |
| Ordinary expenses | 198,395 | 84.1% | S100YBAP |
| Ordinary income | 37,532 | 15.9% | S100YBAP |
| Extraordinary income | 27 | 0.0% | S100YBAP |
| Extraordinary loss | 447 | 0.2% | S100YBAP |
| Pretax income | 37,112 | 15.7% | S100YBAP |
| Income tax | 11,468 | 4.9% | S100YBAP |
| Net income | 25,643 | 10.9% | S100YBAP |
| Net income attributable to owners | 25,601 | 10.9% | S100YBAP |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Ordinary expenses | 84 |
| Ordinary income | 16 |
| (Ref.) Net income | 11 |

### Margin funnel

Ordinary margin 15.9% → Net margin 10.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +56.6%; Core profit growth: +33.7%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.60×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 150,637 | 235,927 | 85,290 | +56.6% |
| Net income attributable to owners | 20,608 | 25,601 | 4,993 | +24.2% |
| Operating cash flow | -67,499 | -375,126 | -307,627 | — |
| Free cash flow | -75,203 | -385,764 | -310,561 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 147,972 | — | — | 16,704 | 318,954 | — | S100MYK1 |
| FY ending Mar 2018 | 135,271 | — | — | 13,686 | 147,022 | — | S100OGDM |
| FY ending Mar 2019 | 130,329 | — | — | 14,141 | 15,842 | — | S100R4M5 |
| FY ending Mar 2020 | 138,035 | — | — | 7,564 | 106,377 | 103,583 | S100MYK1 |
| FY ending Mar 2021 | 128,277 | — | — | 9,422 | 1,166,084 | 1,163,096 | S100OGDM |
| FY ending Mar 2022 | 124,461 | — | — | 11,756 | 1,736,166 | 1,733,724 | S100R4M5 |
| FY ending Mar 2023 | 126,734 | — | — | 9,647 | -1,362,108 | -1,366,504 | S100TT2K |
| FY ending Mar 2024 | 133,114 | — | — | 12,830 | 988,141 | 983,985 | S100VZRN |
| FY ending Mar 2025 | 150,637 | — | — | 20,608 | -67,499 | -75,203 | S100YBAP |
| FY ending Mar 2026 | 235,927 | — | — | 25,601 | -375,126 | -385,764 | S100YBAP |

## People and productivity（FY ending Mar 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥83.4M |
| Net income per employee (consolidated) | ¥9.1M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 2,959 | 2,867 | 2,799 | 2,772 | 2,828 |
| Average salary (parent company) | ¥6.5M | ¥6.7M | ¥6.7M | ¥6.9M | ¥7.4M |
| Average age (parent company) | 42.3 years | 42.7 years | 43.0 years | 43.2 years | 42.8 years |
| Average tenure (parent company) | 18.4 years | 19.0 years | 19.2 years | 19.3 years | 19.1 years |

Year over year: Employees (consolidated) +2.0% · Revenue (consolidated) +56.6%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Banking | 204,906 | 86.8% | 35,940 | 17.5% |
| Leasing | 24,417 | 10.3% | 863 | 3.5% |
| Other | 6,645 | 2.8% | 1,643 | 24.7% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share |
| --- | ---: |
| Banking | 86.8% |
| Leasing | 10.3% |
| Other | 2.8% |

Segment → industry: Banking → Regional Banks / Other → Securities & Asset Management / Other → Credit Cards & Consumer Credit / Leasing → Leasing

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | -375,126 | -159.0% | S100YBAP |
| Capital expenditure | 10,638 | 4.5% | S100YBAP |
| Free cash flow | -385,764 | -163.5% | 算出 |
| Investing cash flow | 19,974 | 8.5% | S100YBAP |
| Financing cash flow | -14,667 | -6.2% | S100YBAP |
| Dividends paid | 12,086 | 5.1% | S100YBAP |
| Share buyback | 2,429 | 1.0% | S100YBAP |
| Change in cash | -369,819 | -156.8% | S100YBAP |
| Cash and equivalents | 2,263,763 | 959.5% | S100YBAP |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 9.3% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 8.2% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 8.2% | 2026-03-31 |
| 北海道電力株式会社 | Major shareholder | 6.2% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 4.4% | 2026-03-31 |
| 大樹生命保険株式会社 | Major shareholder | 3.0% | 2026-03-31 |
| BNYM AS AGT/CLTS NON TREATY JASDEC （常任代理人 株式会社三菱UFJ銀行） | Major shareholder | 2.0% | 2026-03-31 |
| 北洋銀行職員持株会 | Major shareholder | 1.8% | 2026-03-31 |
| 第一生命保険株式会社 | Major shareholder | 1.6% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505223 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第170期(2025/04/01－2026/03/31) | S100YBAP | 2026-06-15 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YBAP,, |
| 有価証券報告書－第169期(2024/04/01－2025/03/31) | S100VZRN | 2025-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZRN,, |
| 有価証券報告書－第168期(2023/04/01－2024/03/31) | S100TT2K | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TT2K,, |
| 有価証券報告書－第167期(2022/04/01－2023/03/31) | S100R4M5 | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R4M5,, |
| 有価証券報告書－第166期(令和3年4月1日－令和4年3月31日) | S100OGDM | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OGDM,, |
| 訂正有価証券報告書－第165期(令和2年4月1日－令和3年3月31日) | S100MYK1 | 2021-11-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MYK1,, |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).